Oanda Scam Test

Oanda Scam Test

Oanda is one of the most relevant players in the foreign exchange trading business. They have many faithful traders from all around the world and have been a part of the industry for quite a while. As a matter of fact, they are considered to be one of the elite brokers in this sector. Nevertheless, we decided to perform a thorough test in order to see if their offer still holds up. Do you need to worry about any kind of Oanda scam? Is the company’s reputation still justified? Read on and find out!

Oanda is fully regulated

When you’re thinking of broker’s safety policy, the first thing that pops up should definitely be regulation. Only regulation can guarantee that a broker is operating in compliance with the law. Since Oanda does business all around the world, they are regulated by several regulatory bodies, which is quite an achievement.

We’ve already mention this in our Oanda Review 2018, but we’d like to reiterate it – Oanda is one of the few brokers that can work in the United States. In the U.S. they are registered with the U.S. Commodity Futures Trading Commission and with the National Futures Association. In Canada they are regulated by the Investment Industry Regulatory Organization of Canada (IIROC). Besides that, the broker is regulated in Europe, Australia and in the Asia-Pacific region. All in all, we can say they are regulated all over the world. With that kind of testing, the possibility of Oanda scam is brought down to its absolute minimum. However, that’s not all we have to say.

Oanda Regulations

Privacy Policy

Since in the forex business everything is done online, some traders feel anxious when submitting personal information, e.g. credit card details. Indeed, internet can be a risky place and there are many people who might try to take advantage of your personal data. That’s why you need a broker that does everything possible to stop the bad guys from stealing your data or your money.

When it comes to Oanda, you have absolutely nothing to worry about. The company uses SSL encryption in order to keep your data safe. SSL stands for secure sockets layer and it encrypts all the data transactions between the broker and its clients. Besides that, the broker restricts access to the important information so only employees who need to know the information have access. The support is also on the same high level, and the trading platform is based on the latest technology, so you can always be sure the most accurate data is coming your way.

All in all, the broker’s technology and dedication make sure no Oanda scam can happen. Both from the inside and from the outside.

Oanda Privacy Policy

Conclusion

The fact that this company has licenses from regulatory bodies scattered all over the world is simply an incredible accomplishment. Most brokers will have one, maybe two licenses, but to have one from each continent is very impressive. Add to that the professionalism of the people who work on this website and the technology deployed to protect you, and you get something very special. Not only will no Oanda scam ever happen to you, but we would strongly recommend you open an account here if you want to trade with a trusted broker.

Author's overall rating:

Author: Ben Prescott

Updated: July 23, 2018

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